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Providing Education Assistance to Employees? Follow These Rules

Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year from his or her employer for educational assistance under a “qualified educational assistance program.”

For this purpose, “education” means any form of instruction or training that improves or develops an individual’s capabilities. It doesn’t matter if it’s job-related or part of a degree program. This includes employer-provided education assistance for graduate-level courses, including those normally taken by an individual pursuing a program leading to a business, medical, law or other advanced academic or professional degree.

Additional requirements

The educational assistance must be provided under a separate written plan that’s publicized to your employees, and must meet a number of conditions, including nondiscrimination requirements. In other words, it can’t discriminate in favor of highly compensated employees. In addition, not more than 5% of the amounts paid or incurred by the employer for educational assistance during the year may be provided for individuals who (including their spouses or dependents) who own 5% or more of the business.

No deduction or credit can be taken by the employee for […]

By |2021-05-05T21:48:05+00:00May 5th, 2021|business, education credit, employer|0 Comments

We’re Hiring! Interested in Joining a Fun, Vibrant Work Culture That Puts People First?

Interested in joining a fun, vibrant work culture that puts people first? Want to make an impact on the community, work together as a team to solve client’s financial needs, drink copious amounts of really good, local, organic coffee? Looking to join a company that has won Best Place to Work for 10 years in a row?

We are always looking to add the right folks to our team. If you are interested in a career in accounting, have your CPA license, enjoy a team approach, we might be your match made in heaven.

It’s not all work here either. We serve the community together, build bonds on our annual team retreats and celebrate our successes with our families on annual, company wide vacations. Recent firm trips have included Spain, Croatia, Disneyland and Alaska. We don’t strive for work life balance, we live it and champion for it. We appreciate everyone’s contributions- big or small. Sound enticing? Interested in working at a not-so-typical CPA firm? Let us know if our creative accounting culture might be right for you.

For details:

By |2021-04-06T18:51:32+00:00April 6th, 2021|hiring|0 Comments

Thank You Team! Best Place to Work Winner for 2020

Thank You!

For the 10th year in a row, we’ve been honored to win the Best Place to Work Award by the North Bay Business Journal. This award is truly a testimony to the amazing team we have here at Linkenheimer. We have always said that our people are the cornerstone for our success and we work hard to put them and their families first. Their passion, dedication and commitment to the community, clients and our company culture has allowed us to thrive, even in these trying times. We are incredibly grateful for the team and leadership we have and this award is a wonderful recognition for all of them. At Linkenheimer, we strive to provide an incredible work environment and company culture, that allows everyone the opportunity to positive engage with the team, our clients and the community. Our culture and firm values help drive and determine our interactions and decisions, allowing us to have a cohesive mission that we all work hard to achieve. We want to thank each employee, client and community member for […]

By |2020-09-23T14:54:14+00:00September 23rd, 2020|award, best place to work|0 Comments

Weighing The Risks Vs. Rewards Of A Mezzanine Loan

To say that most small to midsize businesses have at least considered taking out a loan this year would probably be an understatement. The economic impact of the COVID-19 pandemic has lowered many companies’ revenue but may have also opened opportunities for others to expand or pivot into more profitable areas.

If your company needs working capital to grow, rather than simply survive, you might want to consider a mezzanine loan. These arrangements offer relatively quick access to substantial funding but with risks that you should fully understand before signing on the dotted line.

Equity on the table

Mezzanine financing works by layering a junior loan on top of a senior (or primary) loan. It combines aspects of senior secured debt from a bank and equity-based financing obtained from direct investors. Sources of mezzanine financing can include private equity groups, mutual funds, insurance companies and buyout firms.

Unlike bank loans, mezzanine debt typically is unsecured by […]

By |2020-09-18T15:33:42+00:00September 18th, 2020|business, small business|0 Comments

IRS Issues Warning About Coronavirus-Related Scams

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The IRS warned taxpayers to watch out for emails, text messages, websites, and social media attempts related to the coronavirus that request money or personal information. Taxpayers should not click on links from emails that appear to come from the IRS. The IRS and its Criminal Investigation Division have seen a wave of new and evolving phishing schemes against taxpayers. In most cases, the IRS will deposit economic impact payments into the direct deposit account taxpayers previously provided on tax returns. Taxpayers who have previously filed but not provided direct deposit information to the IRS will be able to provide their banking information through a newly designed secure portal on www.irs.gov in mid-April. If the IRS does not have a taxpayer’s direct deposit information, a check will be mailed to the address on file. No one from the IRS will be reaching out to taxpayers by phone, email, mail, or in person asking for information to complete economic impact payments. If you have questions or concerns, please reach out to your Linkenheimer CPA.

By |2020-09-03T20:03:10+00:00April 6th, 2020|irs|0 Comments
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